2009 Senate Bill 195 / Public Act 21

Let local governments invest in credit union CDs

Introduced in the Senate

Feb. 5, 2009

Introduced by Sen. Tony Stamas (R-36)

To allow local governments to invest in credit union certificates of deposit.

Referred to the Committee on Banking and Financial Institutions

Feb. 12, 2009

Referred to the Committee of the Whole

With the recommendation that the bill pass.

Feb. 17, 2009

Passed in the Senate 34 to 0 (details)

Received in the House

Feb. 17, 2009

Referred to the Committee on Banking and Financial Services

April 2, 2009

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

April 21, 2009

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

Passed in the House 107 to 0 (details)

To allow local governments to invest in credit union certificates of deposit.

Received in the Senate

April 22, 2009

Passed in the Senate 35 to 0 (details)

Signed by Gov. Jennifer Granholm

May 5, 2009